BRP Inc. (NASDAQ:DOO) Stock Has Average Target Price of $84.00 According to Analysts

BRP Inc. (NASDAQ:DOO) has earned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $84.00.

Several equities analysts have issued reports on the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of BRP in a research note on Friday, May 29th. Royal Bank Of Canada restated an “outperform” rating on shares of BRP in a research note on Friday, May 29th. National Bank Financial raised shares of BRP from a “sector perform” rating to an “outperform” rating in a report on Thursday, September 3rd. TD Securities raised BRP from a “hold” rating to a “buy” rating in a research report on Tuesday, August 18th. Finally, Scotiabank restated a “sector perform” rating on shares of BRP in a research note on Friday, September 4th.

Hedge Funds Weigh In On BRP

A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in shares of BRP by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,078,181 shares of the company’s stock worth $65,728,000 after purchasing an additional 23,055 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of BRP by 65.4% during the 2nd quarter. Tidal Investments LLC now owns 15,415 shares of the company’s stock worth $941,000 after acquiring an additional 6,095 shares during the period. NewEdge Advisors LLC acquired a new position in shares of BRP during the 2nd quarter valued at about $79,000. Nykredit A S purchased a new stake in shares of BRP in the second quarter valued at about $61,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of BRP by 24.5% in the second quarter. Allianz Asset Management GmbH now owns 60,855 shares of the company’s stock valued at $3,716,000 after purchasing an additional 11,966 shares during the period.

BRP Stock Performance

Shares of DOO stock opened at $55.39 on Tuesday. BRP has a 52-week low of $48.83 and a 52-week high of $81.89. The company’s 50 day moving average is $62.27 and its 200 day moving average is $61.56. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 50.35 and a beta of 0.88. The company has a quick ratio of 0.52, a current ratio of 1.19 and a debt-to-equity ratio of 7.31.

BRP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 29th will be paid a dividend of C$0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 29th. BRP’s dividend payout ratio is presently 63.64%.

BRP Company Profile

BRP Inc is a Canadian manufacturer of powersports and recreational products. The company develops, manufactures, distributes and sells vehicles and related products through a portfolio of well-known brands, including Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am on-road and off-road vehicles, and Rotax engines and propulsion systems.

BRP also offers marine products through its boat brands, including Alumacraft, Manitou and Quintrex. Its product portfolio is supported by parts, accessories, apparel and other services designed to complement its vehicles and recreational equipment.

The company traces its origins to 1942, when Joseph-Armand Bombardier founded the business that developed the first Ski-Doo snowmobile.